The following information is available for the manufacturing operations of Argon Ltd. for the month of January: Direct materials purchased $40,000 Direct labour cost $20,000 Direct labour hours 1,000 Factory overhead rate per direct labour hour $12 Opening inventory Ending inventory January 1 January 31 Direct materials $25,000 $20,000 WIP $15,000 $10,000 Finished goods $45,000 $40,000 Required (SHOW YOUR WORK) a) What is the Cost Of Goods Manufactured? b) What is the Cost Of Goods Sold